Auction types

An ascending, multi-round auction in which an initial price and the price step between auction rounds are set. In each round, auction participants submit the required quantity in MWh or the required number of SBUs (units representing an aggregate package of storage capacity and withdrawal/injection capacities), up to the sum of the offered storage capacity plus any additional storage capacity (including capacity not yet activated).

If the required quantity exceeds the available supply, another auction round is held, with the price increased by the price step. The auction ends when the required quantity is the equal to or less than the quantity offered.

This is a capacity auction in which, in each round, an auction participant may submit a request for storage capacity reservation, up to the sum of the offered storage capacity and any additional storage capacity (including capacity not yet activated). The reservation request for the second and each subsequent storage period must not exceed the reservation request submitted for the immediately preceding storage period.

A time-limited auction with ascending or descending price mechanism. Auction participants submit their bids, and no participant may submit a bid identical to one already placed by another participant. After the time limit expires, the auction ends and the participant who submitted the last valid bid obtains all the offered storage capacity and allocated capacities.

The storage operator may define a “reaction minutes” (e.g. the final two minutes of the auction). If a new bid is submitted during this period, the auction time is automatically extended (e.g., the two minutes remain until the end of the auction).

An extended ERMMA auction in which participants submit, in addition to their bids, the required quantities or numbers of SBUs. During the auction, participants can see the quantity or number of SBUs they would receive at the offered price.